million or 44.19 percent, Because of Land awaiting development and the completed project as follow ; Chatuchot and Don Wai 2. Tax expenses The Company and its subsidiaries' tax expenses was increased Baht

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6 December 2007 1 | P a g e Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 4, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel. 66 2 654

other relating businesses, by striving to grow sustainably. The company has foreseen the potential of “Nomura Real Estate Development” (NRED) – one of world’s leading real estate developer that has a long

become a leading company in the real estate industry and other relating businesses, by striving to grow sustainably. The company has foreseen the potential of “Nomura Real Estate Development” (NRED) – one

remaining two segments, Integrated Oxides & Derivatives and Specialty Chemicals are expected to resume their earnings from unplanned shutdowns, except IPA which we believe will recover over the next 12-18